If the units themselves are in poor shape it could also be an indication that there is additional differed maintenance at the property.

I didn't have the cash so I used future value appraisals and sweat equity to minimize my cash needed for each deal.

We rehabbed the interior, and we just got a letter from the HOA indicating that we’re getting a new roof and siding- paid for in full by insurance!

Its main purpose would be to prevent (and minimize) potential conflicts as much as possible.

I still thought of this as a bad time to list but your numbers indicate otherwise!

We decided that this would be a good route for us after listening to the podcast (show 364) with Avery Carl, where she points out that you only need 10% down for Second Home loans versus at least 25% down for Investment Property Loans.However, we started talking to a mortgage lender, and they indicated that we would be required to obtain an investment loan if there is any rental income whatsoever, regardless of whether or not we self-manage via AirBnB/VRBO and meet all of the other Fannie Mae requirements for Second Homes.

Yea, too high of margins indicate to me its ripe for competition.

i guess i assumed wilmington would be a hot spot, all i ever hear is how much people like it and want to move there so that indicator was always around.. thanks for both replies guys!

I didn't mention the last thread to indicate you shouldn't have posted, just to let you know you're not alone in this situation.If there is no resolution to this and you're going to wind up with an empty lot, is there any value in that?

That way you could see if a title company was involved in the current Owner's purchase of the property.The last recorded deed may also indicate if the Seller/current owner was represented by an attorney or that the previous Owner was represented by an attorney (if attorney prepared the deed) or find out the name of the person who notarized the deed.You could ask the current Owner/Seller for this information but most Owners/layman just can't tell you/give you any information about what happened when they purchased.Good luck.